surplus but that there is considerable variation across the countries, with Hong Kong, China exhibiting the biggest increase … consumer demand, especially for the larger economies of Korea and Taipei,China. Moreover, the rising affluence and living … standards in fast growing regional economies such as the People's Republic of China (PRC) offers the Asian tigers the potential …

Myrdal did not cover China in his Asian Drama. If he did, he would have been most likely pessimistic about China, as he … was about other Asian countries in his book. However, China has achieved miraculous growth since the transition from a … planned economy to a market economy at the end of 1978. This paper provides answers to the questions: Why was China trapped in …